In order to become a profitable gambler you must understand the jargon and talk like one. Below are the most used terms in gambling. Still want to learn more? Contact us at our email firstname.lastname@example.org to schedule your private lesson with a one of our Vegas insiders
GLOSSARY OF TERMS
ATS- against the spread. If a team is 5-2 ATS, it means it has a 5-2 record against the point spread, or more commonly referred to simply as the “spread."
Moneyline- A bet in which your team needs to win in order to win your wager. The point spread is replaced by odds.
Back Door- When a team scores points at the end of a game to cover the spread unexpectedly.
Opening Line- The spread that is initially released to the public.
Closing Line- The spread that last available to the public, prior to the game starting.
Line Movement- Sports betting is a fluid market. After oddsmakers release their opening lines at sports books, they are immediately subject to change. Many things influence these changes such as “public” money, “sharp” money, weather and injuries. The key to being a successful bettor is to dissect these line moves and realize which side has value.
Value- Value means getting better than “true” odds on a team. (Ex. a wager that is place on a team that is +7 early in the week, and the line closes at +5)
Spot- the situation the team is facing due to previous circumstances. There can be both “good” and “ bad” spots. Sharp bettors use factor these in when evaluating games.
Even Money- Odds that are considered 50-50. You put up $1 to win $1.
Chalk-The favorite in the game."Chalk" bettors typically bet the favorite.
Cover- The betting result on a point-spread wager. For a favorite to cover, it has to win by more than the spread; an underdog covers by winning outright or losing by less than the spread.
Sharp- Pro Bettor
Sharp Money- the money/bets that have been placed by pro bettors
Public Money- a bet that is collecting the most tickets
Square- A casual gambler. Someone who typically isn't using sophisticated reasoning to make a wager.
Total- the perceived expected point, run or goal total in a game.
Teaser- Betting multiple teams and adjusting the point spread in all the games in the bettor's favor. All games have to be picked correctly to win the wager.
Vig- The commission the bookie or bookmaker takes; also called the "juice." Standard is 10 percent.